Bank Of America’s Christmas Present: Foreclose Even Though Not A Payment Missed - ctwatchdog.com

[WillyT]

At the bottom of the link to this piece, you can see the correspondences from BoA.

Bank Of America’s Christmas present: Foreclose Even Though Not A Payment Missed
By George Gombossy
Last updated Dec 31, 2010, 10:54 am

<snip>

In one of the more bizarre foreclosure cases, Bank of America is threatening to throw a West Hartford family out of their home even though the couple never missed a mortgage payment. The largest bank in the United States earlier this month notified Shock Baitch and his wife Lisa (Friedman) Baitch that foreclosure action will start Christmas eve unless the couple agrees to put their home up for a forced sale.

As of this (Friday Dec. 31) morning, Bank Of America has not backed down from its foreclosure threat. But a bank spokesman now denies it ever threatened foreclosure, despite a letter from the bank stating it. The spokesman’s comments, the foreclosure letter, the customer’s response, as well as the October letter from Bank of America accepting responsibility for its errors are now on the bottom of this column.

Why the foreclosure threat?

Because another unit of Bank of America erroneously reported to credit agencies that the family was seeking a loan modification, ruining their credit rating and as the result putting their mortgage into default.

All this is happening even though the bank – after admitting it erred and sent a letter of apology in September – handed this case to a special unit at Bank of America that is charged with dealing with severe customer issues. It promised to notify the credit reporting agencies that the couple were not deadbeats, but were good credit risks.

“I have never seen a case like this,” said Manchester attorney Wendell Davis, whose office handles many foreclosures. Before taking the case, Davis said he thoroughly checked Baitch’s records and found that all his and his wife’s allegations were accurate. “They have never even been late on a mortgage payment,” said Davis this morning in an interview.

Davis, a member of the Ct Bar Association’s foreclosure committee, said he is preparing a lawsuit to protect his clients because it’s the only way to hold Bank Of America accountable for its actions.

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Link: http://ctwatchdog.com/2010/12/24/bank-of-americas-christmas-present-foreclose-even-though-not-a-payment-missed

:mad:

[Ishoutandscream2]

1. Shit. And these bastards have my home and car note

How can these idiots be trusted?

[Kaleko]

3. They are criminals and above the law.

Nothing will stop them except a collapse of the entire system of which they are a part.

This is a huge multi-national crime syndicate working with impunity so far.

[Sonoman]

6. Mine, too, and now they are charging me for NOT USING...

one of my company's credit cards.

That's right - if I don't use it, they charge a fee.

Then they told me that, since I have not used the card, I can no longer conduct any business at the teller. I have to do it thru ATM.

Sonoman

[hedgehog]

2. If I read this correctly, the couple was doing OK but had

decided to consolidate/re-finance some loans to save money. Bank of America screwed up their credit rating, all the other creditors responded by raising minimum payments, interest rates, lowering credit lines etc until the couple ended up in arrears on accounts they'd always paid for on time. The other, unnamed banks, have a lot of explaining to do also, IMO.

[proud2BlibKansan]

4. Too many of these stories

You have to wonder about the people who are losing their homes this way but their stories are not in the media.

[Frustratedlady]

5. This is still happening to my son and he doesn't even own a house.

He had problems closing his house when he sold it. They said he was a year overdue on payments, which he wasn't. They've agreed he made the payments after he sent them copies of the checks, then say it was the year before. This has been going on for 6 months. He keeps getting foreclosure notices but no longer owns the house because they are renting until they move to another city. BOA CLOSED on the other house. Why would they close if money was owed? Why didn't my son receive foreclosure notices when he supposedly was a year behind in payments?

They had a chance to sell their house and took advantage of it, knowing they would be moving within a year anyway. As it turned out, that wasn't a good deal. They've eaten up any profit fighting BOA.

Those people are totally incompetent.